Mutual of America Capital Management LLC Sells 8,059 Shares of U.S. Bancorp (NYSE:USB)

Mutual of America Capital Management LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.6% in the third quarter, HoldingsChannel.com reports. The fund owned 216,136 shares of the financial services provider’s stock after selling 8,059 shares during the quarter. Mutual of America Capital Management LLC’s holdings in U.S. Bancorp were worth $9,884,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in U.S. Bancorp in the second quarter worth approximately $20,188,000. Janus Henderson Group PLC boosted its stake in U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after acquiring an additional 16,686 shares in the last quarter. Comerica Bank grew its holdings in U.S. Bancorp by 11.2% in the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after purchasing an additional 56,738 shares during the period. M&G Plc increased its stake in U.S. Bancorp by 73.9% in the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after purchasing an additional 133,498 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of U.S. Bancorp by 1,140.5% during the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 18,739 shares during the period. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on USB. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Thursday, October 24th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Evercore ISI increased their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Oppenheimer lifted their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.22.

U.S. Bancorp Trading Down 0.8 %

Shares of U.S. Bancorp stock opened at $49.90 on Monday. The firm has a market cap of $77.85 billion, a PE ratio of 15.26, a P/E/G ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a 1 year low of $36.49 and a 1 year high of $51.76. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a fifty day moving average price of $46.99 and a 200-day moving average price of $43.73.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has approved a share buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.